Yeliz Akmaca 
Bitcoin price crossing $123,000 sparked a massive liquidation wave in the crypto market. With Bitcoin’s rapid surge, famous trader Qwatio lost $25.8 million in just two days by losing his leveraged short positions.
According to blockchain analytics firm Lookonchain, Qwatio opened $55 million worth of Bitcoin (BTC), $36 million worth of Ethereum, and $7.3 million worth of Fartcoin positions. All of these positions were short. However, the market’s sharp rise quickly liquidated the trader’s positions associated with wallet code 0x916E.
Detailed Losses According to Lookonchain Data
Lookonchain revealed that Qwatio first lost 16.28 million USDC. Then, to increase his leveraged position, he deposited another 10 million USDC to Hyperliquid. Yet, the rise in Bitcoin and Ethereum prices turned his short-selling strategy into a disaster.
Gambler @qwatio's massive short positions worth $334M were fully liquidated in just 3 hours, including: 1,743 $BTC ($211M), 33,743 $ETH ($102.3M), and 15M $FARTCOIN ($20.6M).
His wallet (0x916E) is now down nearly $25.84M in total losses. https://t.co/RwVCmLe4rK pic.twitter.com/Ed1jXyaYEY
— Lookonchain (@lookonchain) July 14, 2025
Qwatio’s total $334 million short position was liquidated within just 3 hours. The liquidations included 1,743 Bitcoins valued at $211 million, 33,743 Ethereum worth $102.3 million, and 15 million Fartcoins worth $20.6 million. These liquidations resulted in a total loss of $25.8 million.
Crypto analytics platform EmberCN highlighted that the trader’s previous $26 million profit was nearly wiped out by these two short positions.
Profits During Trump Era and Subsequent Decline
Qwatio’s success started with “long” trades opened before former US President Donald Trump’s “crypto reserve” announcement in March 2025. During this period, the trader earned $6.8 million and made another $3.5 million from MELANIA coin.
However, at the end of June, he experienced 8 liquidations, losing $12.5 million. With the recent loss, his total losses have approached $38 million.
Other Leveraged Traders Also Impacted
Bitcoin’s rapid rise affected not only Qwatio but many traders with short positions. Approximately $600 million worth of leveraged positions were liquidated in the last 24 hours.
One of them was James Wynn. Wynn opened a short position betting Bitcoin would fall but lost his entire $100 million investment. This highlights the risks traders face when using high leverage in volatile markets.
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